Managing the inventory in your warehouse is a matter of many factors working together. As a warehouse manager, it’s your job to ensure that all the necessary items are stocked and ready for purchase. Check out these tips for organizing your warehouse and managing your inventory.
Predict Purchasing Trends
The most important tip on this list is making sure that you correctly predict purchasing trends. While it takes some research and time to accomplish, it can be done. Purchasing trends tell you a lot about customer behavior, what they purchase, and how much they spend. This information allows you to keep in-demand products in stock. If you’re finding that you are continually running out of an item, then you probably need to readjust your predictions.
Lead Time on Reordering
It could be that you have correctly predicted purchasing trends but have still lagged in your reorders. Reorder time differs depending on the vendor, so it’s important that you get on the same page about the date of order and delivery time.
It’s easy for items to get lost in cluttered and busy warehouses. Even the best inventory tracking systems require human input, and busy employees can make mistakes. If you even encounter an item that frequently gets marked as lost, it’s likely just a failure in your organizational system. It might be necessary to give your inventory tracking program an overhaul – one that’s more efficient for the unique demands and makeup of your warehouse.
Set Minimum Inventory Levels
Do you have set minimum inventory levels? If not, putting them in place will give you the quantity you should maintain for a specific item. The minimum inventory levels should keep you from ever running out of an item, and if you are, it could indicate that your reorders are too low.
It’s possible that you’re doing all the right things and you have all the appropriate systems in place to manage your inventory items effectively. Still, there could be factors that are out of your control, like the professionalism and promptness of your transportation vendors. If there are frequent delays in shipping or other consistent issues, it might be time to take up the matter with your transportation vendors.
Make Space Work for You with Metro Shelving!
If you’re a homeowner or run a business, you can depend on Metro Shelving. If you need to outfit a warehouse, give us a call at (800) 400-7500. Call us even if you aren’t looking to outfit a warehouse because if your garage, laundry room, or kitchen pantry need help, we can help you too. Are you on social media? Follow us on Facebook, Google+, LinkedIn, and Pinterest.